The company plans to start Brazil’s next ferronickel project and submitted its mine plan for Araguaia to Brazil’s National Mining Agency (ANM) on Tuesday.

The move comes as nickel prices have strengthened of late thanks in part to the anticipated demand from the growing electric vehicle market.

CEO Jeremy Martin said submitting the plan took the project into the mining development phase, and along with ANM approving the final exploration reports for Araguaia’s mineral reserves to cover the project’s initial 28-year mine life, was a further de-risking.

Another Brazil-focused company Harvest Minerals (LN:HMI) has continued to rise since last month announcing initial sales from its Arapua fertiliser project in the South American country.

The company was awaiting certification but said it had a “robust order book” of more than 20 direct consumers from coffee growers to crop farmers and cooperatives.

Meanwhile, Greatland Gold (LN:GGP) continues to attract attention after this week adding to its Paterson holding in Western Australia with the acquisition of the Black Hills gold project.

Finally, Randgold Exploration (SJ:RNG) was the only Johannesburg-listed company to make this week’s list, coming in at 10th place with a gain of 16.6%, on no news since its financial statements in August which outlined ongoing litigation and legal fees.